Approximately 52,000 taxpayers have complied with the legal obligation to open and declare bank accounts on the e-Filing electronic portal of the Tax Administration.
Approximately 3,000 others have made the declaration through the “My Issues” module, or by submitting the data physically (in writing), at the Regional Tax Directorates.
According to the legal definition, this obligation affects a total of approximately 55,000 taxpayers, which include:
- individual taxpayers who are traders, registered for value-added tax;
- legal entities that are taxpayers, regardless of the turnover they generate;
- Nonprofit organizations registered with the tax authority.
I propose to exempt only individual traders, currently registered, who are not registered for value added tax, from this obligation.
In case these entities register for Value Added Tax at a later stage, they are then obliged to open and declare a bank account with the Tax Administration, through their electronic declaration account on e-filing.
We remind taxpayers that new businesses are required to open a business/organization bank account no later than 20 calendar days from the day after registration with the National Business Center/Tax Administration and to declare it in the same manner to the Tax Administration.
In the event of non-compliance with the aforementioned tax obligation, Law No. 31/2019 “On Certain Amendments to Law No. 9920, dated May 19, 2008, “On Tax Procedures in the Republic of Albania,”" as amended, provides for penalties for taxpayers.
The Tax Administration thanks taxpayers who have correctly fulfilled this legal obligation, while assuring that no penalty will be imposed without verifying every legal avenue of declaration, both written and electronic.
Source: General Directorate of Taxes.